权证是发行人与持有者之间的一种契约，权证持有人在约定的时间有权以约定的价格买入或卖出一定数量的标的资产。

Warrant is one kind of contract between the issuers and the holders. Warrant holders have the right to buy or sell a certain number of underlying with an agreed price at the agreed time.

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在卖空交易中，投资者借入证券，并期望将来以较低的价格买入同等数量的股票，借此归还原先所借的证券并获得投资收益。

In a short sale, an investor borrows securities and hopes to make a profit by buying an equal number of shares later at a lower price to replace the borrowed securities.

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另外，尽管高管们喜欢谈论他们公司的光明前景，但他们卖出的股票数量却要超过买入的数量。

Plus, while executives love to talk about their companies' bright prospects, they sell far more stock than they buy.

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I bought a number of two-period bonds such that the value of my purchase exactly equals the proceeds that I get from shorting the one period bond, so I've made a zero wealth transaction.

我买入了一定数量的两年期债券,其成本刚好等于我卖空,一单位一年期债券获得的资金,我做的是零成本交易

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